April Property sales were 3, down -85.7% from 21 in April of 2010 and -80.0% lower than the 15 sales last month. April 2011 sales were at their lowest level compared to April of 2010 and 2009. April YTD sales of 52 are running -14.8% behind last year’s year-to-date sales of 61.
The Median Sales Price in April was $355,000, up 25.9% from $282,000 in April of 2010 and down -26.0% from $480,000 last month. The Average Sales Price in April was $348,667, up 17.5% from $296,761 in April of 2010 and down -37.5% from $557,620 last month. April 2011 ASP was at highest level compared to April of 2010 and 2009.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The April 2011 Selling Price per Square Foot of $325 was up 8.3% from $300 last month and up 14.8% from $283 in April of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The April 2011 Selling Price vs Original List Price of 96.6% was up from 92.1% last month and up from 95.6% in April of last year.
Inventory / New Listings / Sales
‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in April 2011 was 17, up 88.9% from 9 last month and down -78.5% from 79 in April of last year.